Current Events > Meat CEO: "plant-based food will cannibalize animal meat"

(+) Yeah! (+)

https://www.agriculture.com/cargill-ceo-says-plant-based-will-cannibalize-protein-business

Cargill CEO Dave MacLennan has said that his company is preparing for a big shake-up in its business over the next few years, as consumer demand for the new generation of plant-based protein products eats into market share for meat from slaughtered animals.

Our analysis is that in [] three to four years, plant-based will be perhaps 10% of the market, he said at a conference held by the US National Grain & Feed Association. Were a large beef producer and that is a big part of our portfolio. So theres some cannibalization that will occur, Reuters reported him as saying.

Cargill has been trying to increase its footprint in the plant-based protein space of late, anticipating the consumer shift away from animal protein. The US agribusiness giant is a key supplier of pea protein to plant-based patty maker Beyond Meat through a joint venture with Puris Foods, and recently earmarked $475 million to expand its US soybean crushing capability.

Cargill has also launched its own range of plant-based meat alternatives in China. Its PlantEver retail brand is available to consumers following a trial period with enterprise customers including fast food chain KFC in the country last year.

Plant-based foods just keep on rising and rising in popularity.

Anytime a CEO complains about something, the exact opposite view is the correct one to have.

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interesting choice of verb

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Good.

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That's kinda the idea, dude.

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Only when it tastes the same

Oil CEO: "No shut up electricity is dumb"

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Not until its cheaper. Cuz everyone says it is. But its still like double for anything like that at the grocery store

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LightningAce11 posted...

Anytime a CEO complains about something, the exact opposite view is the correct one to have.

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I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.
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I don't see anything moral about what he's saying. It's literally just a loose market prediction, he's not saying "oh god plants are evil" or "please eat more meat".

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Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Lmao I love how triggered Duncan gets over fake meat and alternative milks.

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Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Why do you always say this?

I'm ok with that, long as we can still enjoy a nice steak every so often, and not cost an arm and a dick to get.

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Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

They're not, they all clearly say plant based

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Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Vegans are annoying af, but this is a really bad take. Even for you.

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darkprince45 posted...

Not until its cheaper. Cuz everyone says it is. But its still like double for anything like that at the grocery store

Government subsidies at like every level in the process are cool aren't they
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I very much doubt that

Any time soon at least

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darkprince45 posted...

Not until its cheaper. Cuz everyone says it is. But its still like double for anything like that at the grocery store

@Darkprince49

Plant meat prices have gone down, whereas animal meat prices have gone up.

https://www.washingtonpost.com/business/2021/06/08/plant-based-proteins-pricing/

Plant-based meat was having a moment before the pandemic, nabbing celebrity investors, record-setting IPOs, Whopper fast-food deals and high-end chefs who transformed pea protein and soy into savory, expectation-defying deliciousness.

Then the pandemic hit, restaurants closed, and many Americans were stuck at home battling anxiety and sourdough starters. Industry experts wondered whether enthusiasm for this new food category would falter and sales flag would plant-based meat turn out to be a fad rather than a movement? It fleetingly looked grim: Last April, plant-based protein shipments to restaurants fell 27 percent, according to market research firm NPD Group.

However, it appears that those worries were ill-founded. Alt-meat has emerged stronger than ever, much of it because of one thing: price.

Myriad pandemic pressures upended the pricing formulas for both traditional meat and plant-based proteins, making alt-meat a more competitive choice at the grocery store, far more quickly than any expert could have predicted.

It used to be that plant-based proteins generated a ton of hype and heady righteousness for health-oriented and environmentally focused consumers, yet a pound of ground Impossible Burger was still way more than double that of even the fanciest ground beef making this new generation of faux meat a reach for the cost-conscious cook.

Supply-chain problems and virus outbreaks in meat-processing plants have led to meat price increases that far outstrip those of groceries overall. Meanwhile, its getting easier and less expensive for companies to create a lot more of these plant-based proteins, bringing down the costs of the soy and pea-protein meats, dairy and eggs much faster than anticipated.

A pound of ground Beyond Meat is down to about $5.70. Beef prices, up 3.3 percent from a year ago, mean ground beef can cost between $4.10 and $6, according to the U.S. Bureau of Labor Statistics. Impossible Foods has cut its restaurant prices twice in the past year, and in February, the company cut retail prices by 20 percent, bringing the price of two quarter-pound patties down to $5.49.

We plan to keep lowering prices as we achieve new production records and economies of scale and ultimately undercut the price of ground beef from cows, said Impossible Foods President Dennis Woodside in an email.

Oh no, not ten percent!

Good news! Fuck you, meat CEO, fuck you forever, eat shit and piss yourself.

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Good.

I, uh, think you guys are misinterpreting the man's statements. He's saying that their plant-based meats growth is going to in part be cannibalizing their regular meat sales. He's not saying it's a problem, he's saying to expect their plant sales to increase at their expense of their meat products.

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Pogo_Marimo posted...

I, uh, think you guys are misinterpreting the man's statements. He's saying that their plant-based meats growth is going to in part be cannibalizing their regular meat sales. He's not saying it's a problem, he's saying to expect their plant sales to increase at their expense of their meat products.

This is CE nobody wants to actually understand what he's saying they just want to shitpost.

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Pogo_Marimo posted...

I, uh, think you guys are misinterpreting the man's statements. He's saying that their plant-based meats growth is going to in part be cannibalizing their regular meat sales. He's not saying it's a problem, he's saying to expect their plant sales to increase at their expense of their meat products.

Yup.

bump

This topic is also grossly misinterpreting what a CEO is doing. Every statement a CEO to the public is basically prefaced by, "Our company's leaders in Finance, Research & Development, Sales & Marketing, Operations, Strategy, etc have to come the conclusion that (with a little wordsmithing by me) xyz will happen."

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I tried one of those real fake meat burgers a weekend ago. It was delicious.

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Yeah the whole it's not cheaper people must live in the US or another country with heavy subsidies.

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Master Kazuya posted...

I tried one of those real fake meat burgers a weekend ago. It was delicious.

Some are quite good

Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Well, it's a good thing they outright say that they're plant-based.

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PoundGarden posted...

Vegans are annoying af, but this is a really bad take. Even for you.

The best is when Duncan talks shit about how vegans are unhealthy and not in shape as if he hasnt posted pics of himself before

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Dude is a flab bomb with severe postural issues

Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Duncan stop
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Good.

Big meat

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Bump

Machete posted...

Duncan stop

Breathing?

Pogo_Marimo posted...

I, uh, think you guys are misinterpreting the man's statements. He's saying that their plant-based meats growth is going to in part be cannibalizing their regular meat sales. He's not saying it's a problem, he's saying to expect their plant sales to increase at their expense of their meat products.

NightRender posted...

This topic is also grossly misinterpreting what a CEO is doing. Every statement a CEO to the public is basically prefaced by, "Our company's leaders in Finance, Research & Development, Sales & Marketing, Operations, Strategy, etc have to come the conclusion that (with a little wordsmithing by me) xyz will happen."

Nope this is CE, gotta be mad at a CEO to hit the outrage quota today
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Everyone is roasting the CEO here but to me this just looked like a reasonable projection of the market and an attempt to be strategic about it. Shrug.

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BLAKUboy posted...

That's kinda the idea, dude.

exactly my thoughts lol

LightningAce11 posted...

Anytime a CEO complains about something, the exact opposite view is the correct one to have.

@LightningAce11 what is he complaining about

Are you trying to say you dont see a rise in market share for plant based meat?
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I really dont understand why people in this topic are pissed off at the guy. Hes merely predicting the future for the industry. He isnt saying anything negative at all.

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pinky0926 posted...

to me this just looked like a reasonable projection of the market and an attempt to be strategic about it. Shrug.

The Popo posted...

I really dont understand why people in this topic are pissed off at the guy. Hes merely predicting the future for the industry. He isnt saying anything negative at all.

Agreed.

The rise of plant-based food is inevitable. The dude is embracing it.

Don't fake plant meats have a shitload of bad preservatives and are ultra processed to the point of being worse for you than real meat?

Also

Kloe_Rinz posted...

Only when it tastes the same

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As a current meat eater, I am definitely inching more and more away from meat myself. I already don't eat pork. I can easily drop chicken and steak down the line. I just need more food options that I can afford.

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Duncanwii posted...

I would never willingly eat plants advertised as meat. Its false advertising and should be illegal.

Its not false advertising if they literally tell you what it is.
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FabIe posted...

Don't fake plant meats have a shitload of bad preservatives and are ultra processed to the point of being worse for you than real meat?

Some of them are.

I think companies are going to keep improving them, especially considering how popular they are getting.

I like beyond burgers at restaurants and impossible is just below imo but still alright.

Tried making my own burgers with beyond but it wasn't great.

I did find veggie pepperoni though so I've started doing meatless Monday with that on my pizza

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